EIKA Asset Management (EAM), a part of EIKA Group, one of the leading real estate development companies in Lithuania, has established a new closed-end fund, KŪB Partnership Fund II, for informed investors. The fund’s main investment focus is the development of apartment projects in Vilnius. The new fund will achieve an average annual return of 13–15% for investors. The Bank of Lithuania granted permission to establish this fund.
“The fund’s main investment object is residential properties being developed in Vilnius, where commercial and service premises are also being developed in addition to residential spaces. Although EAM has recently been actively developing investments in its managed funds not only in Poland, but also throughout Central Europe and Germany, our focus also remains on investments in Lithuania, as the residential real estate market in Vilnius still remains very attractive to investors,” says Andrius Uždavinys, Head of EAM.
According to A. Uždavinis, Vilnius surprises many foreign colleagues and partners with its growth rate, therefore investments in real estate projects in the capital are not only a financial, but also a strategic investment in the future of the city.
“EAM funds’ investments in real estate projects are not just investments in another building. It is a source of stable returns for investors and at the same time a significant contribution to the urban and economic growth of the capital,” emphasizes the head of EAM. According to him, Vilnius remains one of the fastest developing cities in the region, therefore it is a guarantee of long-term value and growth for investors.
KŪB Partnership Fund II is the seventh investment fund established by EIKA Asset Management, which will begin its investment activities by acquiring a residential real estate project in the Kalnėnai microdistrict of Vilnius. A new middle-class housing project will be developed here next year. Over five years, more than 473 apartments will be offered to buyers in 4 stages. The total value of the project is almost 60 million EUR.
The manager of this fund is Gediminas Tamašauskas, Head of Capital Markets at EAM, who has been working at EAM for over 2 years. His list of successful projects includes signing banking agreements with top international banks in different legal jurisdictions: Lithuania, Latvia, Poland, Slovakia and the United Kingdom. In addition, he has initiated several bond issues, including one listed on the main Nasdaq regulated exchange.
KŪB Partnership Fund II is the seventh investment fund established by EIKA Asset Management for informed investors. The fund marks a further step in EAM’s development and the strengthening of its Vilnius-focused long-term investment strategy.
EAM funds invest in Lithuania and abroad, mainly in the Central and Eastern European region.